Zacks Research Issues Pessimistic Forecast for CLF Earnings

Cleveland-Cliffs Inc. (NYSE:CLF - Free Report) - Equities researchers at Zacks Research dropped their Q4 2026 earnings per share estimates for Cleveland-Cliffs in a research report issued to clients and investors on Wednesday, June 11th. Zacks Research analyst A. Barman now forecasts that the mining company will earn ($0.01) per share for the quarter, down from their prior estimate of $0.01. The consensus estimate for Cleveland-Cliffs' current full-year earnings is ($0.79) per share. Zacks Research also issued estimates for Cleveland-Cliffs' Q1 2027 earnings at $0.02 EPS.

Several other equities research analysts have also recently weighed in on CLF. B. Riley reissued a "buy" rating and set a $17.00 price objective (down from $20.00) on shares of Cleveland-Cliffs in a research note on Wednesday, April 23rd. Glj Research downgraded Cleveland-Cliffs from a "strong-buy" rating to a "strong sell" rating and set a $3.91 target price on the stock. in a research report on Wednesday, May 28th. Finally, The Goldman Sachs Group lowered their price target on Cleveland-Cliffs from $13.00 to $11.25 and set a "buy" rating for the company in a research report on Monday, May 12th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Cleveland-Cliffs currently has a consensus rating of "Hold" and an average price target of $12.03.

Cleveland-Cliffs Price Performance

Shares of Cleveland-Cliffs stock traded down $0.03 during trading hours on Friday, reaching $7.16. The company's stock had a trading volume of 23,939,950 shares, compared to its average volume of 17,911,126. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.85 and a quick ratio of 0.55. Cleveland-Cliffs has a one year low of $5.63 and a one year high of $16.47. The firm has a 50 day moving average price of $7.42 and a 200-day moving average price of $9.25. The stock has a market cap of $3.54 billion, a P/E ratio of -7.38 and a beta of 1.85.

Cleveland-Cliffs (NYSE:CLF - Get Free Report) last posted its earnings results on Wednesday, May 7th. The mining company reported ($0.92) earnings per share for the quarter, missing analysts' consensus estimates of ($0.78) by ($0.14). The business had revenue of $4.63 billion during the quarter, compared to analysts' expectations of $4.71 billion. Cleveland-Cliffs had a negative net margin of 2.31% and a negative return on equity of 0.59%. The company's revenue for the quarter was down 11.0% compared to the same quarter last year. During the same period last year, the business posted $0.18 earnings per share.

Institutional Investors Weigh In On Cleveland-Cliffs

A number of institutional investors and hedge funds have recently bought and sold shares of CLF. Strategic Financial Concepts LLC bought a new stake in shares of Cleveland-Cliffs in the fourth quarter valued at about $442,000. Empowered Funds LLC bought a new stake in shares of Cleveland-Cliffs in the 4th quarter valued at about $462,000. Kestra Private Wealth Services LLC lifted its position in shares of Cleveland-Cliffs by 10.8% in the 4th quarter. Kestra Private Wealth Services LLC now owns 160,130 shares of the mining company's stock worth $1,505,000 after purchasing an additional 15,638 shares during the period. Stonebridge Financial Group LLC bought a new position in shares of Cleveland-Cliffs during the fourth quarter valued at approximately $44,000. Finally, Louisiana State Employees Retirement System increased its holdings in Cleveland-Cliffs by 3.6% during the fourth quarter. Louisiana State Employees Retirement System now owns 134,400 shares of the mining company's stock valued at $1,263,000 after buying an additional 4,700 shares during the period. 67.68% of the stock is owned by institutional investors.

Insider Activity at Cleveland-Cliffs

In other news, EVP James D. Graham sold 120,000 shares of the firm's stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $6.85, for a total transaction of $822,000.00. Following the transaction, the executive vice president now directly owns 492,249 shares of the company's stock, valued at approximately $3,371,905.65. This trade represents a 19.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.71% of the stock is owned by company insiders.

Cleveland-Cliffs Company Profile

Cleveland-Cliffs is the largest flat-rolled steel company and the largest iron ore pellet producer in North America. The company is vertically integrated from mining through iron making, steelmaking, rolling, finishing and downstream with hot and cold stamping of steel parts and components. The company was formerly known as Cliffs Natural Resources Inc and changed its name to Cleveland-Cliffs Inc in August 2017.